Dysprosium is a sought-after, heavy rare earth element used in a variety of high-tech manufacturing processes. Dysprosium and terbium are a key component of highly energy-efficient permanent magnet motors used in electric vehicles, wind turbines, air conditioning, and industrial robots.

If successful, the company plans to proceed with a full-scale plant with an expected capital expenditure of $329 Million and up to 680 new jobs across construction and operations.

Proponents have signed an agreement with the Jaru people, guaranteeing that at least 20 % of the workforce for the full-scale project will be from the local Aboriginal community.